Many homebuyers are coming in with cash to buy Downtown San Diego Condos and Downtown San Diego Lofts. The graph above shows us the percentage of cash investors for the first quarter of 2012. There has been a good portion of increasing cash buyers here in Downtown San Diego where we started the year with a total of 23 percent. February increased with 16 percent and March increased with another 9 percent leaving March with a total of 48 percent cash vs. 52 percent financing.
As Downtown San Diego Real Estate Specialists, we are seeing bidding wars going on where some units have multiple offers. The seller can compare offers and will most likely go with the bid offering cash, a short close of escrow as well as a an increase in the earnest money deposit. It might seem unfair but a cash buyer is key when it comes to being able to stay in the game of bidding wars and get the opportunity to close a deal.